We recently compiled a list of the These 10 Firms Were Last Week's Worst Performers. In this article, we are going to take a look at where Macy’s Inc. (NYSE:M) stands against the other stocks.

Wall Street’s main indices finished firmer on Friday, with all main indices settling in the green territory ahead of President-elect Donald Trump’s return to the White House.

Week-on-week, the Dow eked out a 3.81-percent gain, the S&P rallied 3.79 percent, while the Nasdaq increased by 3.84 percent.

Ten companies from diverse sectors, however, ended Friday weaker, posting notable declines versus the week prior. In this article, let’s look at which firms suffered a bloodbath and the reasons that dragged their performance.

For this week’s list, we only focused on companies with a market capitalization of at least $2 billion and a minimum trading volume of $5 million.

A customer in a store trying on fashionable apparel and accessories for purchase.

Macy’s Inc. (NYSE:M)

Retail giant Macy’s Inc. (NYSE:M) suffered an 11.6-percent decline in its share prices to finish Friday’s trading at $13.99 versus the $15.84 close the week prior following news that it was closing 150 underperforming stores by 2026 and keeping only 350 stores in its portfolio.

For this year, around 66 stores are expected to shut down albeit the locations have not been disclosed.

Macy’s CEO Tony Spring said in a recent statement that closing stores is never easy, but the locations chosen were underproductive for its so-called Bold New Chapter strategy, which includes a shift to chasing wealthier shoppers with its higher-end brands including Bloomingdale’s and Bluemercury.

At its current valuation, Macy’s (NYSE:M) was already 2.4 percent shy of touching its 52-week low of $13.66.

Overall M ranks 8th on our list of last week's worst performers. While we acknowledge the potential of M as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than M but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.

 

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Disclosure: None. This article is originally published at Insider Monkey.